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Undergraduate Course Catalog 2008-2009

College of Life Sciences and Agriculture


Environmental and Resource Economics (EREC)


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Professor: Lyndon E. Goodridge, John M. Halstead, Bruce E. Lindsay
Associate Professor: Alberto B. Manalo, Douglas E. Morris, Robert A. Robertson
Research Assistant Professor: Troy Hartley

This program offers training in environmental and resource economics, including public resource policy, resource management, natural resource and environmental economics, and community economics and finance. The curriculum emphasizes applied economics in the context of public policy. Training is also available in agricultural economics, including agribusiness, small business management, food marketing, agricultural policy, and world food supplies.

Students majoring in environmental and resource economics will normally concentrate in one of the following three areas: environmental and natural resource economics, agricultural economics, or community economics. In addition, students must satisfy general education requirements, which lead to a broad university education. Majors interested in the economic or business aspects of agriculture and natural resources will be expected to take courses in the biological sciences.

Students majoring in any of the social science, life science, and agriculture departments of the University may find it to their advantage to elect courses or a minor in environmental and resource economics or agribusiness. By doing so, their basic training can be supplemented in a specific area of interest, such as resource development and natural resource policy for social science majors, farm management and agricultural marketing for agricultural majors, and community economics and finance for students interested in local government and development.

Required Courses
All of the following
ECON 401, Principles of Economics (Macro)
ECON 605, Intermediate Microeconomic Analysis
ECON 611, Intermediate Macroeconomic Analysis,
ECON 635, Money and Banking
EREC 411, Environmental and Resource Economics Perspectives
EREC 504, Business Management for Natural Resource Firms
EREC 525, Statistical Methods and Applications
MATH 420, Finite Mathematics, or MATH 424B, Calculus for Life Sciences

At least five of the following, of which two must be 700 level
EREC 501, Agricultural and Natural Resource Product Marketing
EREC 572, Introduction to Natural Resource Economics
EREC 606, Land Economics Perspectives: Uses, Policies, and Taxes
EREC 611, Marine Resource Economics
EREC 627, Community Economics
EREC 633, Economics of Travel and Tourism
EREC 676, Economics of Water Use and Quality Management
EREC 708, Environmental Economics
EREC 715, Linear Programming and Quantitative Models
EREC 756, Rural and Regional Economic Development
TOUR 700, Marketing Communications Research: Methodological Foundations

Students who major in environmental and resource economics are qualified for a wide variety of opportunities upon graduation. Private business, public institutions, and government agencies currently have a strong demand for specialists trained in natural resource development; land and water use policy; natural resource and small business management; agricultural, fisheries, and forestry marketing; and community development. In many cases, students may wish to improve their qualifications by pursuing more specialized graduate studies in one or more of the above areas.

Departmental Honors
Honors in environmental and resource economics will be awarded to students who complete 16 credits of honors courses in environmental and resource economics (including a minimum of four credits of a senior research project), and who maintain a minimum grade-point average of 3.20 in the major. Students interested in the environmental and resource economics honors program should contact the environmental and resource economics coordinator in James Hall for more information.

Students interested in a major or minor in environmental and resource economics should contact John M. Halstead, 324 James Hall, (603) 862-3914.

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